oilrefinery

BP Contemplates Divestment of Gelsenkirchen Oil Refinery in Germany

4 months ago

In a strategic move aimed at realigning its global operations, British energy giant BP has signaled its intention to explore the sale of its Gelsenkirchen oil refinery, located in Germany. This decision comes as part of BP's broader strategy to shift focus toward more sustainable energy solutions and reduce its carbon footprint amid increasing environmental regulations and market shifts.

Major Explosion at Turkish Oil Refinery Leads to Trading Suspension

7 months ago

A significant explosion occurred at an oil refinery in Turkey, triggering immediate emergency response measures and prompting the suspension of trading in related commodities. The incident, reported on November 5, 2024, has raised substantial concerns over the safety protocols in place at industrial facilities as well as the potential impact on global oil supplies.

China's Steel Mills and Oil Refiners Feel the Pressure of Sluggish Economy

7 months ago

The economic landscape in China is facing significant turbulence as the country’s steel mills and oil refineries grapple with a weaker-than-expected economic recovery. Recent data and industry reports indicate that the persistent consumption malaise is forcing many manufacturers to scale back production, leading to overcapacity and pricing pressures.